- Operations Management & Quantitative Techniques
Teaching (Doctoral, Post graduate and Executive Education)
The Operations Management and Quantitative Techniques area of the Indian Institute of Management Indore consists of faculty members with diverse academic backgrounds and interests, including Operations Research (OR), Decision Science, Applied Mathematics, Statistics, Probability and Stochastic process, Data Science and Operations Management (OM). Faculty members of the area are involved with teaching and research on theory, algorithms and applications on topics including, but not limited to, Logistics and Supply Chain Management, Inventory Theory, Production Systems, Queuing Theory, Hospital Management, Healthcare Delivery, Mathematical Programming, Optimization, Theory of Constraints, Game Theory, Network Design and Analysis, Data Science, Mathematical Modelling, Simulation, Statistical Modelling, Design and Analysis of Experiments, Bayesian Inference, Partial Differential Equations, Stochastic Processes, Stochastic Volatility Models, Revenue Management, Mathematical and Statistical Finance. The area members teach core and elective courses across the entire breadth of academic programmes offered by the Institute. Area members are also actively involved in crafting in company training programmes for private and public-sector organizations. Faculty members are also part of multiple governmental and private sector consulting projects.
The research issues addressed by faculty members are diverse and include developing new techniques in Statistical Process Control, Acceptance and Importance Sampling, etc. apart from advancing the theory and practice in the areas of OM and SCM with a focus on Operations Management, Supply Chain Management, Statistical Science and Learning, Process improvement (using Lean thinking, Six Sigma) and Logistics and Supply chain Management etc. The prominent areas of research are:
Agriculture supply chains | Bayesian Methods using MCMC | Computer experiments | Consumer Decision Making | Design and analysis of experiments | Financial time series analysis | Fractional Stochastic Processes | Game Theory | Hospital Management | Humanitarian supply chain | Industry 4.0 | Inventory Management | Inventory theory | Levy processes | Maritime industry | Mathematical Finance | Manufacturing strategy | Ship routing and scheduling | Operations Management | Partial differential equations with real-world applications | Process improvement | Queuing Theory | Reverse logistics | Service operations management | Simulation | Statistical modelling | Statistical Process Control | Stochastic optimal control | Stochastic processes | Subordinated stochastic processes | Supply Chain Management | Survey Sampling and inference
The faculty members are also guiding multiple student industry projects and doctoral dissertations. Currently, the area is mentoring thirteen doctoral students (9 FPM and 4 FPM-Industry). Faculty members are also involved in developing managerial cases from primary as well as secondary material. These cases are actively utilized as teaching aids in the postgraduate and management development programmes.
Special initiative by the area
The OM & QT area has initiated a Data Analytics teaching and research module at IIM Indore. An industry expert panel discussion was conducted to understand the market demand and courses required. Another initiative involves starting a research group on Maritime Logistics with some industry members. The aim is to develop a knowledge and research community for the logistics sector in India.
Omkar D. Palsule-Desai